1. Do you know the performance, specifications and operating costs of the aircraft that would most suit your needs and budget?

2. Are you aware of the subtle and significant changes that airframe and engine manufacturers sometimes make to their product range through the years and their effect on resale value?

3. Are you familiar with the aircraft offer available worldwide? Can you evaluate which aircraft to avoid due to questionable maintenance or other major factors?

4. Are you prepared to invest time so as to deal with repetitive misrepresentations, solicitations from curious seekers or "part-time" dealers trying to get a ‘piece of the cake’? Are you aware how that affects the ultimate price of the airplane?

5. Have you considered the advantages and disadvantages, cost wise, between a turn-key, ready-to-go airplane and an airplane with mid-time or run-out components?

6. Are you aware of all refurbishment and maintenance options and their cost? Would you know how to confront the price offered by interior, paint and maintenance facilities against their real value?

7. Do you know the real difference between competent aircraft dealers - incl. brokers - and "part-timers" along with their respective motivation in the transaction?

8. Have you checked and confirmed the references of the aircraft dealer or broker you have decided to trust?

9. Do you know the ins and outs of aircraft title work and how to deal with clouded titles and obtain a valid Release of Lien?

10. Are you well-prepared enough to foresee and evaluate maintenance requirements, time-life items, calendar and other recurring inspections and the degree of current mechanical and legal airworthiness of the airplane you are interested in?

11. Do you know precisely which questions to ask, what to expect and what is expected from you in a pre-purchase inspection?

12. Can you determine the limits as well as the level of expertise of the facility performing your pre-purchase inspection?

13. Are you familiar with closing procedures? Can you ensure both the Seller and yourself have all necessary documents upon closing so the transaction will not be postponed? And are you familiar with the legal specifics of the documents that bind the buyer and the seller?

14. Are you aware that the purchase agreement you are to sign may be altogether the sole and most important document, among a dozen or so documents required? Do you know precisely which items should be included in a proper agreement?